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False Break Below Trendline The.....>

EURO-YEN TECHS
EURO-YEN TECHS: False Break Below Trendline 
The cross briefly broke below uptrend support drawn from the Jan 4 low on Friday
but bulls mounted a recovery to keep the outlook neutral. Bears need a close
below Friday's low of 124.23 to reignite downside momentum towards the 123.79
level which marks the Jan 24 lows ahead of the bottom of the channel at 123.54.
Bulls initially target 125.50 ahead of the Feb 2 high & down trendline
resistance at 125.95/126.15. A recovery through here strengthens the uptrend
bringing the 128 area back into focus.

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